Spicenet Completes $5 Million Series A Funding, Led by dao5

Odaily report: Spicenet has announced the completion of a $5 million Series A funding round, led by dao5, with participation from Babylon and Astrarizon. Combined with its previously raised $3 million seed round co-led by Hack VC and Magnus Capital, Spicenet's total funding has reached $8 million. The new funds will be used to launch Spice Edge, a cross-venue margin product, and the SPICE token, as well as to provide initial liquidity for products within the network. Spicenet's cross-chain interaction product Spice Flow has already surpassed $160,000 in beta trading volume. Spice Edge is about to launch its beta, with Derive as its first partner.